This program allows a business in certain designated industries (e.g., biotechnology, advanced materials and manufacturing) that creates a minimum of full-time new jobs and offers a basic health plan to receive certain tax benefits. On the local level, these businesses may be eligible for a local rebate of 2.5% for sales/use taxes paid on equipment, machinery and construction materials.
The state provides an annual cash rebate for up to 10-years of 5% of gross annual payroll for minimum hourly wage rates of $14.50, or 6% of gross annual payroll for minimum hourly wage rates of $19.10. A company must hire at least 5 new employees.
Provides 5% or 6% cash rebate of annual gross payroll for new direct jobs for up to 10 years. Allows for 4% sales/use tax rebate on capital expenditures; OR 1.5% investment tax credit for qualified expenses.
Business must be in one of the following industries:
Bioscience, Manufacturing, IT, Environmental Technology, Food Technology, Advanced Materials or Oil & Gas Field Service
Must have at least 50% of annual sales out-of-state and/or to in-state customers or buyers if the product or service is resold by the purchaser to an out-of-state customer or buyer, or to the federal government
Must be located in an area designated by Louisiana Economic Development as a distressed region. A distressed region shall be either of the following:
Is a parish that is within the lowest 25% of parishes based on per capita income
Is a census tract block group that is below the state median per capita income, based upon the latest federal decennial census
There are minimum annual payroll thresholds on net new jobs. Companies with:
Less than 50 employees at the start of the contract is at least $250,000
50 or more employees at the start of the contract is at least $500,000
Businesses cannot apply for both Quality Jobs and Enterprise Zone job incentives.
How to Apply
Login to FastLane on the Louisiana Economic Development website and fill out an Advance Notification form. The Advance Notification form must be filed before any hiring, purchasing or construction activity begins.